Indonesian Motorcycles Industry is burning out. Year to Date September 2023 sales have been 4.8 million (+31.0%), by far the best performance this year among the Top 20 markets in the world.
Indonesian Motorcycles Industry Trend and Perspectives
The Indonesian Motorcycles market – the third largest in the World – started the 2023 with really impressive data, considering the unusual growth for a so large market.
In recent years the market has been always far from the highest levels reached over a decade ago (near 8 million annual sales) and the potential is well above the 2022 5.4 million.
We were expecting in 2023 a growth in double-digit, but the first quarter sales at 1.89 million (+44.1%) were really incredible. Moreover, sales kept booming in the Q2 and the first half ended with 3.2 million sales the fastest increase worldwide this year.
In the third quarter the growth decelerated at a more “normal” +12%, confirming anyhow the outstanding level of consumer demand.
As results, Year to Date September sales have been 4.8 million (+31.0%), by far the best performance this year among the Top 20 markets in the world.
The growth is driven by the largest segment, the scooter, up 31.9%, while motorcycles segment contributes for a +20.1%.
The electrification process is a positive factor, with segment up 150.3%, but not yet relevant in absolute.
Looking at the competitive arena, the market leader in the annual data is Honda with sales up 40.1%.
In second place there is Yamaha (+1.6%) ahead of Piaggio (+20.8%) and Kawasaki (+18.6%).